The Indian School of Business (ISB) alumni have been awarded the Hult Prize and would receive USD 1 million funding support by the Clinton Global Initiative.

"The winning team - Nano Health - comprised of Aditi Vaish, Ashish Bondia, Manish Ranjan, Pranav Kumar Maranganty, and Ramanathan Lakshmanan who participated in this competition earlier this year, as students of the class of 2014 at the ISB," the business school said in a press release.

The annual competition for the Hult Prize aims to identify and launch the most compelling social business ideas-start-up enterprises that tackle grave issues faced by billions of people.

This year's theme was 'Solving Non-Communicable Diseases in the Urban Slums'.